china

Hang Seng Bank says it has expanded its gold and forex trading departments to meet increased demand from clients over the past two years . . . .

China produced 453.5 tons of gold in 2016, a 0.76 percent rise from 2015 which sees the country confirmed as the largest gold producer in the world for the tenth consecutive year . . . .

Can Western gold investing rely on China + India to put a floor under 2017 prices . . . .

Britain’s HSBC bank is projecting gold at $1,550 per ounce by the end of 2017. Trump’s protectionist stance in the campaign, if he follows through with it while in the White House, could trigger trade wars that will destabilize global markets, which would boost gold prices . . . .

The rapidly evolving geopolitical “weapon” brandished by Russia is an ever increasing stockpile of gold, as well as Russia’s native currency, the ruble . . . .

As the yuan retreats, China is taking in more gold. The world’s biggest consumer of the precious metal raised bullion imports from Hong Kong in September for the first time in four months as investors sought to diversify their assets on prospects for further currency weakness . . . .

Demand for gold from top consumer China will remain strong at around 900-1,000 tonnes next year, near 2015 levels, although a weaker appetite for jewelry and slowing economy could curb purchases, an official of the World Gold Council said . . . .

The evidence is out. 3.2 million ounces of gold futures, not gold, were traded in the first few minutes after New York opened the day before yesterday. This is what caused the fall triggering stop losses . . . .

By far the greater bulk of gold owned in China is under the control of the Shanghai Gold Exchange, which is controlled by the Chinese Central Bank, i.e. The People’s Bank of China. Should they wish to confiscate their citizen’s and institution’s gold, it can be done overnight . . . .

Adding gold to official reserves protects Beijing, Moscow against dollar dominance . . . .